On January 28, 2022, the 24h trade volume of Terra's UST stablecoin was suddenly worth billions as opposed to millions the day before. The TerraUSD coin surged to this significantly higher trade volume due to a scandal: research from on-chain analyst zachXBT on Twitter that the one of the chief people behind Decentralized Finance (DeFi) project Wonderland (TIME) was Michael Patryn, co-founder of crypto exchange QuadrigaCX. Quadriga was one of Canada's main cryptocurrency trading platforms, until fraudulent practices were revealed and the company had to file for bankruptcy in 2019. This revelation indirectly impacted Terra's UST. Wonderland, for example, also ran an algorithmic stablecoin project called Abracadabra (MIM), which, in turn, had a connection with UST.
TerraUSD (UST) 24h trade volume from November 25, 2020 to March 22, 2022
(in billion U.S. dollars)
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CoinMarketCap. (March 23, 2022). TerraUSD (UST) 24h trade volume from November 25, 2020 to March 22, 2022 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1298356/ust-trade-volume/
CoinMarketCap. "TerraUSD (UST) 24h trade volume from November 25, 2020 to March 22, 2022 (in billion U.S. dollars)." Chart. March 23, 2022. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1298356/ust-trade-volume/
CoinMarketCap. (2022). TerraUSD (UST) 24h trade volume from November 25, 2020 to March 22, 2022 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1298356/ust-trade-volume/
CoinMarketCap. "Terrausd (Ust) 24h Trade Volume from November 25, 2020 to March 22, 2022 (in Billion U.S. Dollars)." Statista, Statista Inc., 23 Mar 2022, https://www.statista.com/statistics/1298356/ust-trade-volume/
CoinMarketCap, TerraUSD (UST) 24h trade volume from November 25, 2020 to March 22, 2022 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1298356/ust-trade-volume/ (last visited November 21, 2024)
TerraUSD (UST) 24h trade volume from November 25, 2020 to March 22, 2022 (in billion U.S. dollars) [Graph], CoinMarketCap, March 23, 2022. [Online]. Available: https://www.statista.com/statistics/1298356/ust-trade-volume/
